{"id":9487,"date":"2025-04-25T06:28:55","date_gmt":"2025-04-25T06:28:55","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=9487"},"modified":"2026-04-14T12:25:31","modified_gmt":"2026-04-14T12:25:31","slug":"muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/","title":{"rendered":"Muthoottu Mini Financiers Ltd NCD IPO- April 2025, should you invest?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#High_Yield_AStable_Rated_Minimum_Investment_10k_Only\" >High Yield\u00a0|\u00a0A\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Muthoottu_Mini_Financiers_Limited_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series\" >Muthoottu Mini Financiers Limited NCD IPO: Coupon rates and effective yield for each of the series\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Allocation_Ratio\" >Allocation Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Investment_Process_for_Muthoottu_Mini_Financiers_Ltd_NCD_IPO\" >Investment Process for Muthoottu Mini Financiers Ltd NCD IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Financial_Overview\" >Financial Overview<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Snapshot_stating_the_Revenue_Expenses_Net_Worth_and_PAT\" >Snapshot stating the Revenue, Expenses, Net Worth and PAT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Cash_flow_for_last_5_years\" >Cash flow for last 5 years<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Ratio_Analysis\" >Ratio Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Issue_analysis\" >Issue analysis<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Pros\" >Pros\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Cons\" >Cons\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Liquidity_Position\" >Liquidity Position<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\" >To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#About_Muthoottu_Mini_Financiers_Limited\" >About Muthoottu Mini Financiers Limited<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Strengths\" >Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Weakness\" >Weakness<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/#Invest_in_Bond_IPO_online_in_just_5_minutes\" >Invest in Bond IPO online in just 5 minutes<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"High_Yield_AStable_Rated_Minimum_Investment_10k_Only\"><\/span><strong>High Yield\u00a0|\u00a0A\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Muthoottu Mini Financiers Ltd<\/span> <span style=\"font-weight: 400;\">is issuing Non-Convertible <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/what-is-the-difference-between-convertible-and-non-convertible-debentures\/\">Debentures<\/a>. These NCDs are A\/Stable by ICRA. The NCDs are being issued in six series: yield ranges from 9.26% to 11.02% p.a. and different tenures of 18 months, 24 months, 36 months, 48 months and 60 months. The NCDs are secured and redeemable in nature.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-9488 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062419\/Screenshot-2025-04-25-114449.png\" alt=\"\" width=\"668\" height=\"795\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062419\/Screenshot-2025-04-25-114449.png 668w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062419\/Screenshot-2025-04-25-114449-252x300.png 252w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062419\/Screenshot-2025-04-25-114449-585x696.png 585w\" sizes=\"(max-width: 668px) 100vw, 668px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Muthoottu_Mini_Financiers_Limited_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series\"><\/span><strong>Muthoottu Mini Financiers Limited NCD IPO: Coupon rates and effective yield for each of the series\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"size-large wp-image-9489 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062441\/Picture12-1024x298.png\" alt=\"\" width=\"1024\" height=\"298\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062441\/Picture12-1024x298.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062441\/Picture12-300x87.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062441\/Picture12-768x223.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062441\/Picture12-1536x447.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062441\/Picture12-2048x596.png 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062441\/Picture12-1170x340.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062441\/Picture12-1920x558.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062441\/Picture12-585x170.png 585w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Allocation_Ratio\"><\/span><strong>Allocation Ratio<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The allocation ratio is prepared based on norms laid down by SEBI. Before announcing the allocation ratio, the same has to be approved by SEBI.\u00a0 Once the IPO subscription closes, applications will be divided into different categories. The category-wise allocation ratio is always decided and declared during the launch of the particular IPO. Considering the Allocation Ratio, units will be assigned to applicants. Refer to the chart to know the application ratio for Muthoottu Mini Financiers Ltd NCD-IPO.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-large wp-image-9490 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062508\/Picture1-2-1024x691.png\" alt=\"\" width=\"1024\" height=\"691\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062508\/Picture1-2-1024x691.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062508\/Picture1-2-300x202.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062508\/Picture1-2-768x518.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062508\/Picture1-2-1536x1036.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062508\/Picture1-2-1170x789.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062508\/Picture1-2-585x395.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062508\/Picture1-2.png 1653w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Investment_Process_for_Muthoottu_Mini_Financiers_Ltd_NCD_IPO\"><\/span><b>Investment Process for Muthoottu Mini Financiers Ltd NCD IPO<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You can invest in IPOs via GoldenPi in these easy steps.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-9201 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/17112823\/Investment-flow.png\" alt=\"\" width=\"576\" height=\"218\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/17112823\/Investment-flow.png 576w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/17112823\/Investment-flow-300x114.png 300w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Overview\"><\/span><b>Financial Overview<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Snapshot_stating_the_Revenue_Expenses_Net_Worth_and_PAT\"><\/span><strong>Snapshot stating the Revenue, Expenses, Net Worth and PAT<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"text-align: right;\"><span style=\"font-weight: 400;\">\u00a0 \u00a0 \u00a0 (Amount in Rs. Cr)<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-large wp-image-9491 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062554\/Picture8-1024x627.png\" alt=\"\" width=\"1024\" height=\"627\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062554\/Picture8-1024x627.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062554\/Picture8-300x184.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062554\/Picture8-768x471.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062554\/Picture8-1536x941.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062554\/Picture8-2048x1255.png 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062554\/Picture8-1170x717.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062554\/Picture8-1920x1176.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062554\/Picture8-585x358.png 585w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Cash_flow_for_last_5_years\"><\/span><b>Cash flow for last 5 years<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"text-align: right;\"><span style=\"font-weight: 400;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><span style=\"font-weight: 400;\">(Amount in Rs. Cr)<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-large wp-image-9492 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062616\/Screenshot-2024-10-30-145242-1024x578.png\" alt=\"\" width=\"1024\" height=\"578\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062616\/Screenshot-2024-10-30-145242-1024x578.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062616\/Screenshot-2024-10-30-145242-300x169.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062616\/Screenshot-2024-10-30-145242-768x434.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062616\/Screenshot-2024-10-30-145242-1170x661.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062616\/Screenshot-2024-10-30-145242-585x330.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062616\/Screenshot-2024-10-30-145242.png 1257w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Cash flow refers to the movement of cash in and out of the business at a specific point in time. It represents the net balance of the cash movement.<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">*Cash flow from operating activities reflects the amount a company generates through its product of services.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">**Cash flow from investing activities reflects cash generated and spent relating to investing activities, like purchase of assets, sales of securities etc.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><span style=\"font-weight: 400;\">***Cash flow from financing activities gives an insight into the financial stability of a company to its investors. It reflects <\/span><span style=\"font-weight: 400;\">the net flows of cash that are used to fund the company.<\/span><\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Ratio_Analysis\"><\/span><b>Ratio Analysis<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"size-large wp-image-9493 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062642\/Ratio-analysis-table%402x-1024x636.png\" alt=\"\" width=\"1024\" height=\"636\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062642\/Ratio-analysis-table%402x-1024x636.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062642\/Ratio-analysis-table%402x-300x186.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062642\/Ratio-analysis-table%402x-768x477.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062642\/Ratio-analysis-table%402x-1536x954.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062642\/Ratio-analysis-table%402x-1170x727.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062642\/Ratio-analysis-table%402x-585x363.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25062642\/Ratio-analysis-table%402x.png 1800w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Issue_analysis\"><\/span><b>Issue analysis<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Pros\"><\/span><strong>Pros\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><b>Attractive Coupon Rate:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Offers competitive interest rates with various tenors (details in Series structure), making it appealing for fixed-income investors.<\/span><\/li>\n<\/ul>\n<p><b>Reasonable Credit Rating:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rated <\/span><b>[ICRA] A (Stable)<\/b><span style=\"font-weight: 400;\"> as of March 27, 2025 \u2013 indicating adequate degree of safety for timely servicing of financial obligations\u200b.<\/span><\/li>\n<\/ul>\n<p><b>Strong Regional Presence:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">MMFL has a well-established footprint in South India with a long track record in the <a href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/sovereign-gold-bond-vs-fd\/\">gold<\/a> loan segment.<\/span><\/li>\n<\/ul>\n<p><b>Secured Issuance:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The NCDs are <\/span><b>secured by a first charge<\/b><span style=\"font-weight: 400;\"> on current assets including receivables, ensuring 100% security cover\u200b.<\/span><\/li>\n<\/ul>\n<p><b>Repeat Issuer with Track Record:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This is the <\/span><b>19th public issue<\/b><span style=\"font-weight: 400;\">, demonstrating consistent access to debt capital markets.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Cons\"><\/span><strong>Cons\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><b>Concentration in Gold Loans:<\/b><b><br \/>\n<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">MMFL&#8217;s business is primarily in gold loans, which exposes it to volatility in gold prices and borrower defaults.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><b>Limited Geographic Diversification:<\/b><b><br \/>\n<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Operations are primarily concentrated in Kerala and neighboring states, increasing regional risk exposure.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><b>Moderate Credit Rating:<\/b><b><br \/>\n<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">While A (Stable) is investment grade, it&#8217;s below the highest safety rating (<a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/list-of-aaa-rated-bonds\/\">AAA<\/a>), implying some risk.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><b>NBFC Sector Sensitivity:<\/b><b><br \/>\n<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Being an NBFC, MMFL is vulnerable to regulatory changes, interest rate fluctuations, and liquidity crunches in the financial system.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Liquidity_Position\"><\/span><b>Liquidity Position<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li aria-level=\"1\"><strong>Strong ALM Profile:<\/strong> Positive cumulative mismatches across all maturity buckets as of December 2024.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><strong>Adequate Liquidity Buffers:<\/strong> Unencumbered liquidity of \u20b988.9 crore and unused bank lines of \u20b964.6 crore (February 2025). Monthly collections average ~\u20b9700 crore, comfortably covering near-term debt obligations of \u20b9539.2 crore (March\u2013May 2025).<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-better-return-fds\"><b>To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"About_Muthoottu_Mini_Financiers_Limited\"><\/span><b>About Muthoottu Mini Financiers Limited<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Muthoottu Mini Financiers Limited (MMFL), founded in 1998, transitioned from an investment company to a leading non-banking financial company specializing in gold loans by 2007. Now operating through 907 branches across 12 states, MMFL has built a strong presence in South India, with a loan portfolio of \u20b93,525 crore as of June 2024. The company also offers microfinance and property loans, alongside facilitating money transfer services for providers like Western Union, focusing on financial inclusion for diverse communities.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Strengths\"><\/span><b>Strengths<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Established Track Record:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\">MMFL benefits from the Muthoottu Group\u2019s strong brand reputation and six decades of experience in gold loans.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Senior management has extensive industry expertise, supporting consistent business growth.<\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Healthy Asset Quality:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Gross Stage 3 (non-performing assets) stood at a low 0.9% as of March 2024.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Gold loan delinquencies (90+ dpd) were 0.9% in December 2024, with auction recoveries historically ranging between 95% and 105%.<\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Adequate Capitalization:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Gearing ratio improved to 4.9x (December 2024) from 5.1x (March 2024), supported by internal accruals.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Capital Adequacy Ratio (CRAR) remained robust at 23.5% (Tier I: 17.5%) as of December 2024.<\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Improving Profitability:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Return on Managed Assets (RoMA) rose to 2.2% in 9M FY2025 from 1.6% in FY2022, driven by higher-yielding gold loans (89.6% under \u20b93 lakh ticket size).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Weakness\"><\/span><b>Weakness<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Geographic Concentration:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\">95.4% of the loan portfolio is concentrated in South India (Tamil Nadu alone contributes 33.3%), exposing MMFL to regional risks.<\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Moderate Scale &amp; Competition:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Portfolio growth slowed to 8.3% in 9M FY2025 (vs. 30.6% in FY2023) due to a shift toward smaller-ticket loans.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Faces intense competition from banks and large NBFCs in the gold loan segment.<\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Microfinance Risks:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Microfinance (7.8% of portfolio) saw 90+ dpd rise to 5.0% (December 2024) from 2.2% (March 2024), with \u20b91.5 crore write-offs in 9M FY2025.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h1 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Invest_in_Bond_IPO_online_in_just_5_minutes\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-ipo-online\"><b>Invest in Bond IPO online in just 5 minutes<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><span style=\"font-weight: 400;\"><strong>Source-<\/strong> Prospectus April 11, 2025<\/span><\/p>\n<p><strong>Disclaimer- <\/strong><span style=\"font-weight: 400;\">The information is published as on date 04\/25\/2025 based on information available on Prospectus April 11, 2025. The information may be subject to change in case of change in terms of prospectus or any other reason as the case maybe. Contents which are exclusively for educational information\/knowledge sharing on capital market concepts and has no influence the investment\/sale decisions of any investors<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>High Yield\u00a0|\u00a0A\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only \u00a0 Muthoottu Mini Financiers Ltd is issuing Non-Convertible Debentures. These NCDs are A\/Stable by ICRA. The&hellip;<\/p>\n","protected":false},"author":4,"featured_media":12080,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[113],"tags":[],"class_list":["post-9487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ncd-ipo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Muthoottu Mini Financiers Ltd NCD IPO- April 2025, should you invest? - GoldenPi | Blogs<\/title>\n<meta name=\"description\" content=\"Muthoottu Mini Financiers Ltd NCD IPO- April 2025, should you invest?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoottu-mini-financiers-ltd-ncd-ipo-april-2025-should-you-invest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Muthoottu Mini Financiers Ltd NCD IPO- April 2025, should you invest? 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